As we remember the legacy of Thomas Jefferson on the anniversary of his 270th birthday, we recall the principles that he, and all of our Founders, built this great nation upon. Limited government, free enterprise, individual liberty, and personal responsibility are the bedrocks of our democracy, and these principles alone have led us to be the freest and most prosperous nation in the world.
Recognizing the need to preserve our principles and our great nation from one generation to the next, the House of Representatives has offered a budget blueprint that pays down our debt and balances our budget to unleash the power of free enterprise. Our budget reforms our tax code so that our small businesses can hire and so Americans across this country have a chance at the American Dream, harnesses American energy to lower fuel prices and ease the burden on hardworking Americans, and limits the size and scope of the federal government while strengthening our critical retirement and health programs.
This week, 65 days after the lawful deadline, and following passage of both the House and the Senate budgets, President Obama submitted his Fiscal Year 2014 budget proposal to the American people.
While I am glad that the people of the 5th District now have a budget plan from the President, unfortunately, the President's budget only offers more of the same policies that have left us with more than $16 trillion of debt to be passed on to our children and grandchildren. It continues us down a path of higher taxes, increased deficit spending, and a growing federal government that stifles free enterprise and limits job creation. As more and more 5th District Virginians and Americans across this country are struggling to find work, the President's budget burdens our small businesses across the 5th District and the country with more debt, more than one trillion dollars more in taxes, and nearly one trillion dollars more in spending.
For the sake of preserving the nation and the principles set forth by Thomas Jefferson and our Founders, common ground must be reached. I look forward to working with my colleagues to balance our budget and restore limited government, which will create unlimited opportunity for all Americans.